Examlex
When participants are randomly assigned to levels of the independent variable in an experiment to control for individual differences as an extraneous variable, this is called ______.
Pareto's Law
Also known as the 80/20 rule, it states that for many events, roughly 80% of the effects come from 20% of the causes, applicable in various contexts including economics and business.
Batching Economies
Cost advantages gained by producing or purchasing goods in large quantities at once.
Cycle Stocks
Inventory that companies hold to meet normal sales demand, as opposed to inventory held in anticipation of peak demand or for buffering against supply chain uncertainties.
Ordering Cost
The expenses associated with placing and receiving orders for materials, including costs related to paperwork, communication, and transportation.
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